For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Mark Busby on Sydney (02) 9268 4533.

SUMMARY COMMENTARY

MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)

TREND ESTIMATES

The trend estimate for total mineral exploration expenditure rose $29.2m (5.1%) to $601.3m in the June quarter 2010. The current quarter estimate is 23.7% higher than the June quarter 2009 estimate.

Mineral Exploration, Seasonally adjusted and trend series

The largest contribution to the rise in the trend estimate this quarter was in Western Australia (up $25.0m or 7.7%) followed by Queensland (up $2.2m or 2.0%).

The trend estimate for metres drilled rose 2.1% this quarter. The current quarter estimate is 28.5% higher than the June quarter 2009 estimate.

MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)

EXPLORATION EXPENDITURE

The seasonally adjusted estimate of mineral exploration expenditure rose $43.8m (7.7%) to $610.8m in the June quarter 2010. The largest rises this quarter were in Western Australia (up $29.4m or 9.1%) and Queensland (up $18.4m or 18.2%).

In original terms, mineral exploration expenditure rose $177.8m (38.7%). Western Australia had the largest rise of $109.2m (42.5%), followed by Queensland which rose $48.1m (59.7%).

In original terms, exploration on areas of new deposits rose $75.8m (43.7%), while expenditure on areas of existing deposits rose $102.0m (35.7%).

In original terms, the largest rise by minerals sought came from expenditure on iron ore exploration (up $54.5m or 56.6%), with the largest rise occurring in Western Australia. The next largest rise came from expenditure on gold exploration (up $34.9m or 26.7%).

MINERAL EXPLORATION, Original series

MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)

METRES DRILLED

In seasonally adjusted terms, total metres drilled rose 9.8% in the June quarter 2010. In original terms total metres drilled rose 50.4%. Drilling in areas of new deposits rose 69.7% and drilling in areas of existing deposits rose 39.6%.

Metres Drilled, Original series

PETROLEUM EXPLORATION

OVERVIEW

Expenditure on petroleum exploration for the June quarter 2010 rose $142.4m (16.5%) to $1005.9m.

Expenditure on exploration on production leases rose $104.0m (81.1%) to $232.3m, while exploration on all other areas rose $38.4m (5.2%) to $773.6m this quarter.

In the June quarter 2010, petroleum exploration expenditure in Western Australia rose $45.6m (7.1%), followed by Queensland which rose $13.8m (12.2%). Northern Territory showed a fall of $4.9m (13.1%).